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Global Aircraft Engine Market: By Engine Type: Turboprop, Turboshaft, Turbofan, Piston Engine, Others; By Wing Type: Fixed Wing, Rotary Wing; By Aircraft Type: Commercial, Military, General, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Aircraft Engine Market Outlook

The global aircraft engine market is being aided by the growing demand for commercial aircraft engine, which reached a value of USD 80.6 billion in 2020. The demand for commercial aircraft engine is further expected to grow at a steady pace in the forecast period of 2021-2026 to attain USD 85.2 billion by 2026.

 

Global Aircraft Engine Market

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North America to Dominate the Global Aircraft Engine Industry

Regionally, North America is expected to have the largest share in the global market for aircraft engine. This can be attributed to the presence of vast aviation sector and key global players, such as GE Aviation and Honeywell International Inc., in the United States. The increasing military expenditure by the Unites States is expected to propel the regional market growth. Additionally, the increasing technological advancements and the growing investments by the aircraft engine manufacturers to produce light weight compact engines with enhanced fuel efficiency are expected to propel the industry further.  Meanwhile, the Asia Pacific is projected to witness a significant growth in the forecast period due to the rapid development of the aviation industry. Additionally, the increasing defence budgets and growing air fleet in emerging countries such as India and China, coupled with the rapidly developing industrial sector, are projected to contribute to the regional growth.

 

Aircraft Engine: Industry Definition and Segmentation

Aircraft engines are primary power generating devices in the aircraft propulsion system. They are used to generate mechanical power and lift by drawing the air through inlet followed by compression, mixing with fuel, and combusting it. The expulsion of the hot and fast-moving gas through the exhaust propels the rocket. The growing global demand and increasing environmental concerns are leading to continuous technological advancements by manufacturers in order to improve fuel efficiency and performance.

 

Global Aircraft Engine Market By Engine Type

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On the basis of engine type, the market is segmented into:

  • Turboprop
  • Turboshaft
  • Turbofan
  • Piston Engine
  • Others

Based on wing type, the market is divided into:

  • Fixed Wing
  • Rotary Wing

The industry, on the basis of aircraft type, is categorised into:

  • Commercial
  • Military
  • General
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Aircraft Engine Market By Region

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Rapid Technological Advancements to Improve Fuel Efficiency and Performance to Aid the Growth of the Aircraft Engine Industry

The global market for aircraft engine is being driven by the increasing technological advancements in the aviation industry. The increasing focus of the aircraft component manufacturers to enhance performance, improve fuel efficiency, and reduce engine weight is projected to aid the market growth. Moreover, the rapidly growing preference for air travel due to availability of cheaper flight options is pushing the airline companies to increase the fleet size to meet the growing demand.  Additionally, the increasing investment in research and development (R&D) and rising defence expenditure for military aircrafts are expected to provide enhanced growth opportunities to the industry.

In 2020, the nationwide lockdowns and travel bans amidst the COVID-19 pandemic led to a steep decline in the global aviation industry, thereby significantly affecting the global market for aircraft engine during the same year. However, with ease in government restrictions, the market is projected to recover and reach pre -COVID levels in the forecast period.

 

Key Industry Players in the Global Aircraft Engine Market

The report presents a detailed analysis of the following key players in the global aircraft engine market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Honeywell International Inc.
  • Safran Group
  • General Electric Company
  • Rolls-Royce plc
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Aircraft Engine Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Aircraft Engine Market Historical Market (2016-2020) 
    8.3    Global Aircraft Engine Market Forecast (2021-2026)
    8.4    Global Aircraft Engine Market by Engine Type
        8.4.1    Turboprop
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Turboshaft
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Turbofan
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Piston Engine
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Others
    8.5    Global Aircraft Engine Market by Wing Type
        8.5.1    Fixed Wing
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Rotary Wing
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Aircraft Engine Market by Aircraft Type
        8.6.1    Commercial
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Military
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    General
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Others
    8.7    Global Aircraft Engine Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country Kingdom
            9.2.3.1    United 
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Honeywell International Inc.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Safran Group
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    General Electric Company
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Rolls-Royce plc
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Others
12    Industry Events and Developments


List of Figures and Tables

1.    Global Aircraft Engine Market: Key Industry Highlights, 2016 and 2026
2.    Global Aircraft Engine Historical Market: Breakup by Engine Type (USD Billion), 2016-2020
3.    Global Aircraft Engine Market Forecast: Breakup by Engine Type (USD Billion), 2021-2026
4.    Global Aircraft Engine Historical Market: Breakup by Wing Type (USD Billion), 2016-2020
5.    Global Aircraft Engine Market Forecast: Breakup by Wing Type (USD Billion), 2021-2026
6.    Global Aircraft Engine Historical Market: Breakup by Aircraft Type (USD Billion), 2016-2020
7.    Global Aircraft Engine Market Forecast: Breakup by Aircraft Type (USD Billion), 2021-2026
8.    North America Aircraft Engine Historical Market: Breakup by Country (USD Billion), 2016-2020
9.    North America Aircraft Engine Market Forecast: Breakup by Country (USD Billion), 2021-2026
10.    Europe Aircraft Engine Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    Europe Aircraft Engine Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Asia Pacific Aircraft Engine Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Asia Pacific Aircraft Engine Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Latin America Aircraft Engine Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Latin America Aircraft Engine Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Middle East and Africa Aircraft Engine Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Middle East and Africa Aircraft Engine Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Global Aircraft Engine Market Structure

Key Questions Answered in the Report

The global aircraft engine market is being aided by the growing demand for commercial aircraft engine, which reached a value of USD 80.6 billion in 2020.

The demand for commercial aircraft engine is expected to grow at a steady pace in the forecast period of 2021-2026 to attain USD 85.2 billion by 2026, further aiding the aircraft engine market.

The major industry drivers include the increasing technological advancements in the aviation industry and the increasing focus of the aircraft component manufacturers to enhance performance, improve fuel efficiency, and reduce engine weight.

The key industry trends driving growth are the rapidly growing preference for air travel due to availability of cheaper flight options, increasing investment in research and development (R&D) and rising defence expenditure for military aircrafts.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.

The significant engine types include turboprop, turboshaft, turbofan, and piston engine, among others.

The industry is bifurcated in terms of wing type into fixed wing and rotary wing.

Leading aircraft types in the industry include commercial, military, and general, among others.

The major players in the industry are Honeywell International Inc., Safran Group, General Electric Company, and Rolls-Royce plc, among others.

Analyst Review

The global aircraft engine market aided by the growing demand for commercial aircraft engine, which reached a value of USD 80.6 billion in 2020, is driven by the increasing technological advancements in the aviation industry and the increasing focus of the aircraft component manufacturers to enhance performance, improve fuel efficiency, and reduce engine weight. The commercial  aircraft engine market is expected to witness a further growth in the forecast period of 2021-2026, as the demand for commercial aircraft engine is further expected to grow at a steady pace in the forecast period of 2021-2026 to attain USD 85.2 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its engine types, the aircraft engine industry can be segmented into turboprop, turboshaft, turbofan, and piston engine, among others. The industry is bifurcated in terms of wing type into fixed wing and rotary wing. Leading aircraft types in the industry include commercial, military, and general, among others. The major regional markets for aircraft engine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Honeywell International Inc., Safran Group, General Electric Company and Rolls-Royce plc, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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